Company Incorporation Ukraine

Despite many bureaucratic challenges that foreigners face in the Ukraine, the country has seen a steady influx of international investments and new businesses set up. Ukrainian authorities regularly try to encourage foreign investment and abolished investment permits. However, all enterprises must be established according to the forms and procedures prescribed by Ukrainian law and registered with the appropriate government agencies.

Company Formation FAQs

In order to establish a legal entity in Ukraine involvement with the local state registrar, the tax authorities, the statistics office, and various pension and social funds is required, as well as opening a bank account and other formalities.

A Joint Stock Company (JSC) is a legal entity whose share capital is divided into a number of shares of equal nominal value. The liability of shareholders in a JSC is limited to the value of their capital contribution.

A JSC may be established as an open or closed JSC. Shares in an open JSC may be offered to the public, freely transferred, and may ultimately be traded on a stock exchange.

Shares in a closed JSC are distributed initially between its founding shareholders. Existing shareholders in a closed JSC also have pre‐emptive purchase rights for shares offered for sale by the other shareholders.

The minimum capital requirement for a JSC is the equivalent of 1,250 Ukrainian monthly minimum wages at the time when the JSC is formed.

A Representative Office is not a separate legal entity and operates in Ukraine on behalf of the foreign company it represents.

As with an LLC in the Ukraine, Representative Offices have to be registered with the Ministry of Economics of Ukraine, the Statistics Department, the tax authorities and pension and social funds. A Representative Office should also obtain the right to use a seal from the Police department.

Once the Representative Office is registered with the tax authorities and has obtained a permit for a seal, it may open accounts in Hryvnia and foreign currency in a Ukrainian bank. Representative Offices are subject to normal Corporate Income Tax. A non‐commercial Representative Office is generally not subject to VAT.

There are really no incentives for new start ups or specific business activities.

Ukrainian banks have not been very popular amongst Ukrainian and foreign businesses until now. Recent government influence and interference have given extended confidence to investors which resulted in many western banks setting up their branches in Ukraine.

There are several strong national banks currently developed in the Ukraine under strict regulation by the government. These include; Raiffeisen Bank Aval, Privat Bank, Pravex Bank, Oschadny Bank, Universal Bank, Nadra Bank, Ukrsibbank, Ukrsotsbank, and Ukrprombank.

Please click here for further details and services on closing a company.

Branch and Subsidiary Information

Open a Branch in Ukraine

The Ukraine is favourable to foreign investment and offers various incentives to encourage investors. Foreign companies looking to establish a branch in the Ukraine can benefit from the country’s skilled labour force, huge consumer market and geographical location as the trading bridge between Europe, Asia and Russia.

The information and any commentary on the law contained on this website is provided for information and guidance purposes only. Every reasonable effort is made to make the information and commentary accurate and up to date, but no responsibility for its accuracy and correctness, or for any consequences of relying upon it is assumed by Open A European Company, its directors , employees or associated websites.

The information and commentary on Open A European Company’s site does not, and is not intended to amount to legal advice to any third party on a specific case or matter. You are strongly recommended to obtain specific, direct legal advice from professional advisers whether these be your own advisers or those that appear on the OpenAeuropeancompany.com site. You should consider taking advice both in the country in which you are domiciled and in the country in which you are seeking to open a company. and not to rely on the information or comments on this site.

Universal Company Incorporations Ltd, herein known as UCI Ltd, will be what’s known as the ‘Controller’ of the personal data you provide to us.

UCI Ltd is a holding company which encompasses the following websites: Open A European Company.com, Start An American Company.com, Open A Dubai Company.com, Start an Australian Company.com, Open A German Company.com, Open An Italian Company.com and Readymade Companies Worldwide.com. By submitting your data, you agree that UCI Ltd can send you promotional materials on behalf of and relating to these subsidiaries.

We only collect basic personal data about you, which does not include any special types of information or location based information. This does however include your name, email, phone number etc.

Why we need it

We need to know your basic personal data in order to provide you with information on our services, offers and discounts, and news pertaining to those services.

We will not collect any personal data from you that we do not need in order to provide this service to you.

What we do with it

All the personal data we process is handled by our staff in the UK. However for the purposes of IT hosting and maintenance, this information is located on servers within the United States. This data is protected by the EU-US Privacy Shield, ensuring that your information is stored and treated with equivalent privacy and security laws.

This information is stored in a secure account on Mailchimp, an email marketing service. Mailchimp cannot use your data for their own marketing or promotional purposes, and no 3rd parties have access to your personal data unless the law allows them to do so.

As part of our integrated email marketing service, we also collect information on user interaction. This includes collecting data on actions such as opening the newsletter or clicking on links within the newsletter, which is then used to optimise future marketing materials.

We have a Data Protection regime in place to oversee the effective and secure processing of your personal data. More information on this framework can be found on our website.

How long we keep it for

Your data stored for marketing purposes will be kept with us until you notify us that you no longer wish to receive this information. You can do this by contacting us, or by clicking ‘unsubscribe’ at the bottom of our marketing emails.

More information on our retention schedule can be found in our longform privacy policy.

What are your rights?

If at any point you believe the information we process on you is incorrect, you can request to see this information, and even have it corrected or deleted.

If you wish to raise a complaint on how we have handled your personal data, you can contact our Data Protection Officer who will investigate the matter.

If you are not satisfied with our response, or believe we are processing your personal data not in accordance with the law, you can complain to the Information Commissioner’s Office (ICO).

Our Data Protection Officer is Heather Landau, and you can contact them here.